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Field of Study

Accounting|Auditing

Level

Update

Credits

3

Qualifies for

CPE

Overview

Both public and private CPAs must be up-to-date on changes to various potentially relevant standards, including: U.S. GAAP, audits of nonissuers, compilations and reviews. This module provides recent and proposed changes to relevant professional and regulatory standards.

Major Topics:

Private Company Council U.S. GAAP modifications

FASB Accounting Standards Updates with open effective dates, including revenue recognition and leases

Recently issued Clarified Auditing Standards

Recent SSARS activity

Learning Objectives

Discuss changes to U.S. GAAP, including Private Company Council influenced changes

Describe changes to Statements on Standards for Accounting and Review Services (SSARS) that govern preparation of financial statements, compilations and reviews

Explain changes to Statements on Auditing Standards (SASs) and other relevant audit-related activity